Investor Adds to Vanguarda Stake

Brazilian agricultural investor Otaviano Olavo Pivetta has acquired 267.2m additional shares, or about 11.5%, of Vanguarda Agro, Vanguarda says. The block was bought from investment firm Veremonte Participacoes, and would be worth BRL98.9m ($51m) at Tuesday’s BRL0.37 closing price. The deal takes Pivetta’s position to 27.85%.